PH upper middleincome by 2020 – ADB

Philippines is expected to reach an upper middle-income level in the next four years, a result - ments in public sector management operations and social welfare programs in the country, the Asian Development Bank (ADB) said.

The Manila-based multilateral - challenges for the region, said the Philippines along with other Asian economies will step up to become an upper middle-income economy following improvements in the countries’ infrastructure, public sector, and social welfare programs development.

“By 2020, ADB expects that Indonesia, the Philippines, and Sri Lanka will reach upper middleincome status,” it said.

- cant improvement in public sector management operations is an encouraging sign, given the growing need to strengthen institutions and

It said this approach has been instrumental in implementing gradual reforms and successfully achieving results in reform areas in Assam, India; the Philippines; and Vietnam.

Meanwhile, the lender said sig - formance of the education sector